Reaves W H & Co. Inc. Acquires 429,276 Shares of IDACORP, Inc. (NYSE:IDA)

Reaves W H & Co. Inc. raised its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 75.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 998,383 shares of the energy company's stock after buying an additional 429,276 shares during the period. IDACORP comprises 2.9% of Reaves W H & Co. Inc.'s portfolio, making the stock its 13th largest holding. Reaves W H & Co. Inc. owned 1.87% of IDACORP worth $109,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. M&T Bank Corp grew its position in shares of IDACORP by 0.8% during the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock valued at $1,133,000 after acquiring an additional 92 shares during the period. CENTRAL TRUST Co lifted its position in IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock valued at $91,000 after purchasing an additional 100 shares in the last quarter. Pitcairn Co. grew its holdings in IDACORP by 2.3% during the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock valued at $495,000 after purchasing an additional 107 shares during the period. Perigon Wealth Management LLC increased its position in IDACORP by 4.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock worth $311,000 after buying an additional 112 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in IDACORP by 35.9% in the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock worth $46,000 after buying an additional 117 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of brokerages recently issued reports on IDA. Bank of America boosted their price objective on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday. Morgan Stanley lifted their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. Jefferies Financial Group reduced their price objective on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Finally, Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $118.20.

IDACORP Price Performance

IDA traded up $0.71 during trading on Friday, reaching $113.14. 424,464 shares of the company traded hands, compared to its average volume of 310,824. The company has a market cap of $6.11 billion, a P/E ratio of 20.65, a PEG ratio of 2.32 and a beta of 0.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a 12-month low of $88.67 and a 12-month high of $120.42. The firm has a fifty day simple moving average of $110.83 and a 200 day simple moving average of $108.77.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. On average, equities analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.04%. IDACORP's dividend payout ratio is currently 62.77%.

IDACORP Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.